Eyespot is a cool little video remixing service that has been mentioned on Mashable a few times since its beta launch in April 2006. Today they're announcing $3.7 million in Series A funding led by Gabriel Venture Partners, with help from Express Ventures and execs from MP3.com and DivX (who, incidentally, have a video-sharing site called Stage6). The money will be used to develop the technology, pursue a mobile strategy and to provide a white label platform for major media companies.
As mentioned previously, Eyespot provides some slick mixing tools that let you upload some clips and photos, mix them together and add music. More recently, they've added more advanced video effects. You can then post these to selected video-sharing sites, blogs, social networks like MySpace, hi5 and Piczo and download them to devices like your iPod, PSP or cellphone. You can also grab and remix clips from other users, leading to lots of interesting mashups - admittedly, though, many of these are pretty poor, and Eyespot could do better in surfacing the most popular, top rated and most viewed mixes.